Serentica Renewables has signed definitive agreements with KKR for an investment of an additional $250 million in the company.
Earlier in November 2022, Serentica Renewables secured an investment of USD400 million from KKR. With this, the company is planning to install 4,000 MW of renewable energy capacity that will help deliver clean energy to large-scale industrial customers. Serentica has recently signed a new set of power delivery agreements to deliver round-the-clock green energy to some of the leading industrial customers in India. Currently, it is in the process of developing solar and wind power projects across Karnataka, Rajasthan, and Maharashtra. Once commissioned, these projects will supply 9 billion units (BUs) of green energy every year, using the inter-state transmission network, thereby decarbonising a large portion of the electricity consumption of the large-scale industrial customers. Notably, Serentica’s aim is to supply over 40 BUs of clean energy annually in the medium term and displace 50 million tonnes of CO2 emissions.